Hold UltraTech Cement Ltd., target Rs 3660.0 : Reliance Securities

Reliance Securities has Hold call on UltraTech Cement Ltd. with a target price of Rs 3660.0. The current market price of UltraTech Cement Ltd. is 3883.0. Time period given by analyst is year, when UltraTech Cement Ltd. price can reach defined target. Reliance Securities believes UCL will have an imminent revival of capex cycle along with easing supply concerns. The improvement in operating synergies viz. improved clinker cement conversion ratio, raw mix optimization, new split grinding units and additional Waste Heat Recovery System (WHRS) etc. will minimize the impact of hardening of operating costs.